Miami International (NYSE:MIAX) Stock Price Expected to Rise, Rosenblatt Securities Analyst Says

Miami International (NYSE:MIAX) had its target price boosted by Rosenblatt Securities from $50.00 to $55.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Rosenblatt Securities’ target price points to a potential upside of 12.82% from the stock’s previous close.

Several other research analysts have also commented on the stock. Piper Sandler upped their price objective on shares of Miami International from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Tuesday. Morgan Stanley increased their price target on shares of Miami International from $45.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday. JPMorgan Chase & Co. raised their price objective on shares of Miami International from $32.00 to $37.00 and gave the stock a “neutral” rating in a report on Tuesday. Wall Street Zen upgraded Miami International to a “hold” rating in a report on Saturday, August 23rd. Finally, William Blair initiated coverage on Miami International in a research report on Monday, September 8th. They issued an “outperform” rating for the company. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $47.20.

Miami International Stock Performance

Shares of Miami International stock opened at $48.75 on Thursday. The firm’s 50-day moving average price is $41.18. Miami International has a 12 month low of $28.63 and a 12 month high of $49.27.

Miami International (NYSE:MIAX) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.12. During the same quarter in the prior year, the company earned $0.11 earnings per share. Miami International’s revenue was up 57.4% compared to the same quarter last year.

Insider Buying and Selling

In related news, Director Murray Stahl bought 34,470 shares of the business’s stock in a transaction dated Thursday, August 28th. The shares were purchased at an average cost of $36.10 per share, with a total value of $1,244,367.00. Following the completion of the purchase, the director owned 4,557,919 shares in the company, valued at approximately $164,540,875.90. The trade was a 0.76% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders acquired 34,476 shares of company stock valued at $1,244,618 over the last 90 days.

Hedge Funds Weigh In On Miami International

A number of hedge funds have recently bought and sold shares of the company. Readystate Asset Management LP purchased a new stake in Miami International during the 3rd quarter valued at $503,000. Vanguard Group Inc. purchased a new stake in shares of Miami International in the 3rd quarter worth $55,660,000. Texas Yale Capital Corp. bought a new position in shares of Miami International in the third quarter worth about $201,000. JPMorgan Chase & Co. bought a new stake in Miami International during the 3rd quarter worth approximately $32,679,000. Finally, Caprock Group LLC bought a new stake in shares of Miami International during the 3rd quarter valued at $376,000.

Miami International Company Profile

We are a technology-driven leader in building and operating regulated financial marketplaces across multiple asset classes and geographies. Our MIAX Exchanges, MIAX Futures and BSX marketplaces are enabled by our in-house built, proprietary technology. We believe the speed and performance of our proprietary technology coupled with our fully integrated, award-winning customer service, sets us apart from our competitors.